3006Civil EngineeringMedium
A man loans P 187,400 from a bank with interest at 5% compounded annually. He agrees to pay his obligations by paying 8 equal annual payments, the first being due at the end of 10 years. Find the annual payments?
AP 43,489.47
BP 43,263.91
CP 43,600.10
DP 43,763.20
Correct answer
D. P 43,763.20
Explanation
The correct answer is P 43,763.20.